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Corpus Christi apartment sales up 400%: Hendricks-BerkadiaCorpus Christi apartment sales up 400%: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=47902014-02-27T21:29:00Z2014-02-28T07:55:00Z

CORPUS CHRISTI - Transaction activity and dollar volume in Corpus Christi soared in 2013. Deal flow more than doubled from seven sales to 16 transactions last year, according to Hendricks-Berkadia.

Total dollar volume increased more than 400 percent to $221.3 million. Investors specifically targeted properties with 100 or more units in Nueces County that were built prior to 1980.

The average price per unit increased 65.5 percent to $59,051, as properties built prior to 2000 drove the average price per unit higher, selling for an average $91,100 per unit. Buildings built before 2000 sold at an average price per unit of $37,690.

The price per sf rose 43.9 percent to $72.09 last year, as a result of deals involving Class A properties built after 2000, which sold for an average of $106 per sf. Properties build prior to 2000 sold for $46.40 per sf.

Corpus Christi Apartment Sales
  2013 2012 Change
100+ unit sales Average price (per unit) $61,183 $39,537 55%
Average price (per sf) $77.32 $45.93 68%
Transaction count 15 3 400%
Total volume $218,377,076 $44,471,787 391%
Less than
100 unit sales
Average price (per unit) $39,865 $32,768 22%
Average price (per sf) $40.76 $54.24 -25%
Transaction count 1 4 -75%
Total volume $2,950,000 $8,175,000 -64%


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Berkadia
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